08-16-2018  11:04 am      •     
Gregory Wallace CNN
Published: 19 November 2012

(CNN) -- With the so-called fiscal cliff looming, legislators continued on Sunday to express optimism that a deal would be reached -- but members of the two parties remained entrenched on one of the major sticking points, tax revenue.


Asked if she could "accept a deal that does not include tax rate increases for the wealthy," House Minority Leader Nancy Pelosi responded, "No."

Rep. Tom Price, who is chairman of the House Republican Policy Committee, was similarly firm.

"We're still at the place where everything gets hung up: no increases in tax rates. That is still the position of House Republicans, correct?" CNN chief political correspondent Candy Crowley asked on "State of the Union."

"We would be happy to look at that if it solved the problem. The problem is, it doesn't solve the problem," Price replied.

Still, Sen. Dick Durbin, the Democratic whip, said he hears signs the political debate has advanced from the winter of 2010, when the Simpson-Bowles Commission proposed a deficit reduction plan. President Barack Obama had created the commission, but did not send its recommendations to Congress, which instead created the so-called supercommittee -- which proved unsuccessful -- and the deficit reduction measures in the fiscal cliff to break their impasse.

"What I hear is a perceptible change in rhetoric from the other side, and what it is is an invitation for our side to basically sit down and say, what can we do for this country?" Durbin said on CNN.

"Push the special interest groups to the side for the moment, and what I hear the president saying is, we're not going to solve this by asking the wealthiest to pay their fair share, but it will be part of the solution," he continued. "And what I hear from the Republican side is, well, what is the rest of the solution? That is the beginning of a negotiation."

The fiscal cliff is a combination of the spending cuts passed by Congress -- known as sequestration -- and expiration of the Bush-era tax cuts, all set to take effect at the beginning of the new year, absent congressional action. Economists have said the fiscal cliff would put the U.S. economy into recession.

The two parties have been stuck over federal spending on entitlements and the tax breaks. Democrats generally favor extending the Bush-era tax rates for income under a certain threshold -- such as $250,000 -- and letting the rates rise on income above that level. Republicans generally favor extending the rates on all levels of income while reducing loopholes and capping deductions for top earners.

But Democrats say there is not enough money for deficit reduction without the tax increases on the wealthy.

"The president made it very clear in his campaign that there is not enough -- there are not enough resources," Pelosi said on ABC. "You have to cut some investments. If you cut too many, you're hampering growth, you're hampering education, our investments for the future. So just to close loopholes is far too little money."

Price said on CNN that tax increases would not be effective.

"Tax increases to chase ever higher spending is a fool's errand," he said. "What we need to do is have that balanced approach that we've all been talking about, which, again, is increasing revenues through a process of tax reform, and then spending reductions."

While some have suggested a deal could be reached in the new year, the legislators speaking on Sunday agreed there is urgency to avert the cliff before January.

"Kicking the can further down the road, which is one of the things that we hear out of Washington all the time, will no longer be acceptable to either the American people or to the challenges that we have to get this economy rolling again and get jobs created," Price said, calling it a crisis.

Gov. Bobby Jindal of Louisiana, a Republican who previously served two terms in the U.S. House, said on Fox that "if they just put a Band-Aid on this, we'll be in another fiscal cliff in a few months."

Pelosi said that Congress should be able to reach a deal because "we're all grown-ups."

"We have a responsibility to the American people. The elements for an agreement are there. Time is of the essence," she said. "The quicker we do it, the more confidence we instill, the better it is for the economy and for the American people."

™ & © 2012 Cable News Network, Inc., a Time Warner Company. All rights reserved.

 

Recently Published by The Skanner News

  • Default
  • Title
  • Date
  • Random
  • Newspapers from Maine to Hawaii pushed back against President Donald Trump's attacks on "fake news"Newspapers from Maine to Hawaii pushed back against President Donald Trump's attacks on "fake news" Thursday with a coordinated series of editorials speaking up for a free and vigorous press.The Boston Globe, which set the campaign in motion by urging the unified voice, had estimated that some 350 newspapers would participate.They did across the breadth of the country.The Portland (Maine) Press-Herald said a free and independent press is the best defense against tyranny, while the Honolulu Star-Advertiser emphasized democracy's need for a free press."The true enemies of the people — and democracy — are those who try to suffocate truth by vilifying and demonizing the messenger," wrote the Des Moines Register in Iowa.In St. Louis, the Post-Dispatch called journalists "the truest of patriots." The Chicago Sun-Times said it believed most Americans know that Trump is talking nonsense.The Fayetteville Observer said it hoped Trump would stop, "but we're not holding our breath.""Rather, we hope all the president's supporters will recognize what he's doing —  manipulating reality to get what he wants," the North Carolina newspaper said.On Thursday morning, Trump again took to Twitter to denounce "fake news."He wrote: "The Boston Globe, which was sold to the the Failing New York Times for 1.3 BILLION DOLLARS (plus 800 million dollars in losses & investment), or 2.1 BILLION DOLLARS, was then sold by the Times for 1 DOLLAR. Now the Globe is in COLLUSION with other papers on free press. PROVE IT!"THE FAKE NEWS MEDIA IS THE OPPOSITION PARTY. It is very bad for our Great Country....BUT WE ARE WINNING!— Donald J. Trump (@realDonaldTrump) August 16, 2018  That followed this tweet from the president: "THE FAKE NEWS MEDIA IS THE OPPOSITION PARTY. It is very bad for our Great Country....BUT WE ARE WINNING!"The Morning News of Savannah, Georgia, said it was a confidant, not an enemy, to the people."Like any true friend, we don't always tell you want you want to hear," the Morning News said. "Our news team presents the happenings and issues in this community through the lens of objectivity. And like any true friend, we refuse to mislead you. Our reporters and editors strive for fairness."Some newspapers used history lessons to state their case. The Elizabethtown Advocate in Pennsylvania, for instance, compared free press in the United States to such rights promised but not delivered in the former Soviet Union.The New York Times added a pitch."If you haven't already, please subscribe to your local papers," said the Times, whose opinion section also summarized other editorials across the country."Praise them when you think they've done a good job and criticize them when you think they could do better. We're all in this together."That last sentiment made some journalists skittish. Some newspapers, including the Wall Street Journal and the San Francisco Chronicle, wrote editorials explaining why they weren't joining the Globe's effort. The Chronicle wrote that one of its most important values is independence, and going along with the crowd went against that. Both the Chronicle and Baltimore Sun said that it plays into the hands of Trump and his supporters who think the media is out to get him.Nolan Finley, columnist and editorial page editor of The Detroit News, spoke up for the press but added a scolding. He said too many journalists are slipping opinion into their news reports, adding commentary and calling it context."Donald Trump is not responsible for the eroding trust in the media," Finley wrote. "He lacks the credibility to pull that off. The damage to our standing is self-inflicted."The Radio Television Digital News Association, which represents more than 1,200 broadcasters and web sites, is also asking its members to point out that journalists are friends and neighbors doing important work holding government accountable."I want to make sure that it is positive," said Dan Shelley, the group's executive director. "We're shooting ourselves in the foot if we make this about attacking the president or attacking his supporters."It remains unclear how much sway the effort will have. Newspaper editorial boards overwhelmingly opposed Trump's election in 2016. Polls show Republicans have grown more negative toward the news media in recent years: Pew Research Center said 85 percent of Republicans and Republican-leaning independents said in June 2017 that the news media has a negative effect on the country, up from 68 percent in 2010.
    Read More
  • The world mourns the death of Aretha Franklin who died today at 9:50 a.m. at her home in Detroit.
    Read More
  • Omarosa viewed as "two-bit opportunist" for calling Trump a racist only after aligning herself with him 
    Read More
  • Seven ships filled with 176,000 tons of wheat have left Portland for Yemen
    Read More
  • It was a rare admission of fault for an administration that frequently skews data and overstates economic gains.
    Read More
  • PP&R activities scheduled outdoors are being moved indoors where feasible
    Read More
  • Trump tweeted a barrage of insults Tuesday morning as Manigault Newman continued promoting her White House tell-all
    Read More
  • Aretha Frankin, considered one of the greatest singers of all time, has fallen ill
    Read More
Oregon Convention Center Job Fair
Port of Seattle Tours
Calendar

Photo Gallery

Photos and slide shows of local events

Montavilla Jazzfest 2018
The Skanner Report